Dana Secures Capacity for Silicon Carbide Semiconductors through Long-term Supply Agreement with Semikron Danfoss

Rhea-AI Summary

Dana Incorporated (NYSE: DAN) announced a long-term supply agreement with Semikron Danfoss to secure silicon-carbide semiconductors for their inverter technologies. This partnership supports various mobility markets, including light-vehicle and commercial-vehicle sectors. The semiconductors will enhance system efficiency and power density, potentially increasing vehicle range. The agreement strengthens Dana's supply chain capabilities, meeting the growing customer demand for electrodynamic products. In 2021, Dana reported sales of $8.9 billion, emphasizing its commitment to sustainability and innovation.

Positive

• Long-term supply agreement with Semikron Danfoss ensures access to silicon-carbide semiconductors.
• Agreement supports multiple customer programs, enhancing product offerings in light-vehicle and commercial-vehicle markets.
• Increased system efficiency and power density from new inverter technologies may lead to higher vehicle range.

Negative

• None.

MAUMEE, Ohio, Dec. 7, 2022 /PRNewswire/ -- Dana Incorporated (NYSE: DAN) today announced that it has signed a long-term agreement with Semikron Danfoss, one of the world's leading manufacturers of power modules, to secure the supply of silicon-carbide semiconductors, which are designed to be scalable in multiple-chip formats.

"As we continue to grow our strong backlog of electrified programs, we will remain at the forefront of inverter technologies that are critical to managing the energy used in the vehicle," said Christophe Dominiak, Dana chief technology officer. "This multi-year supply agreement with Semikron Danfoss gives us a strategic advantage by ensuring we have access to silicon-carbide semiconductors, as we expand the use of this technology to deliver innovative, efficient, and powerful solutions for our customers."

Targeted for multiple customer programs across the light-vehicle, commercial-vehicle, and off-highway mobility markets, the semiconductors will be used in Dana's silicon-carbide inverter designs, which enable higher system efficiency and power density in a compact package for medium- and high-voltage inverter applications, resulting in the potential for increased range.

"We continue to focus on building a robust supply chain for our electrodynamic products, and we are pleased to be able to source semiconductors from a strong and experienced manufacturer like Semikron Danfoss," said Craig Price, Dana senior vice president of purchasing and supplier development. "The agreement secures Dana's ability to meet the growing demand from our customers across a broad range of vehicle applications."

The eMPack^® platform from Semikron Danfoss is optimized for silicon-carbide technology and uses fully sintered direct pressed die technology, which allows for extremely compact, scalable, and reliable inverters.

"Semikron Danfoss is proud to be selected by Dana to deliver high-performance silicon-based eMPack^® traction modules for their future inverter platforms. Our modular design, capable of utilizing silicon-carbide devices from multiple chip sources, is the ideal module platform for Dana's broad inverter portfolio," said Siegbert Haumann, senior vice president, Semikron Danfoss Automotive Division.

About Dana Incorporated

Dana is a leader in the design and manufacture of highly efficient propulsion and energy-management solutions that power vehicles and machines in all mobility markets across the globe. The company is shaping sustainable progress through its conventional and clean-energy solutions that support nearly every vehicle manufacturer with drive and motion systems; electrodynamic technologies, including software and controls; and thermal, sealing, and digital solutions.

Based in Maumee, Ohio, USA, the company reported sales of $8.9 billion in 2021 with 40,000 associates in 31 countries across six continents. Founded in 1904, Dana was named one of "America's Most Responsible Companies 2022" by Newsweek for its emphasis on sustainability and social responsibility. The company is driven by a high-performance culture that focuses on valuing others, inspiring innovation, growing responsibly, and winning together, earning it global recognition as a top employer. Learn more at dana.com.

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SOURCE Dana Incorporated

FAQ

What is Dana's recent supply agreement about?

Dana has signed a long-term agreement with Semikron Danfoss to secure silicon-carbide semiconductors for improved inverter technologies.

How will the silicon-carbide semiconductors benefit Dana?

The semiconductors will enhance system efficiency and power density, which could lead to increased range for vehicles.

What markets will benefit from Dana's new agreement?

The agreement will support light-vehicle, commercial-vehicle, and off-highway mobility markets.

What was Dana's reported sales figure for 2021?

Dana reported sales of $8.9 billion in 2021.

When was the supply agreement with Semikron Danfoss announced?

The supply agreement was announced on December 7, 2022.